Tiptree (TIPT)
Market Price (6/22/2026): $17.495 | Market Cap: $661.1 MilSector: Financials | Industry: Life & Health Insurance
Tiptree (TIPT)
Market Price (6/22/2026): $17.495Market Cap: $661.1 MilSector: FinancialsIndustry: Life & Health Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 27% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include AI in Financial Services, and Fintech & Digital Payments. Themes include AI for Fraud Detection, and Specialty Insurance Platforms. | Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -42% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -497 Mil Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -201%, Rev Chg QQuarterly Revenue Change % is -123% Key risksTIPT key risks include [1] significant uncertainty surrounding the proposed sale of its key assets, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 27% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include AI in Financial Services, and Fintech & Digital Payments. Themes include AI for Fraud Detection, and Specialty Insurance Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -42% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -497 Mil |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -201%, Rev Chg QQuarterly Revenue Change % is -123% |
| Key risksTIPT key risks include [1] significant uncertainty surrounding the proposed sale of its key assets, Show more. |
Qualitative Assessment
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Updated on 6/1/2026
Tiptree (TIPT) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Closing of Significant Divestitures: Tiptree announced the closing of the Fortegra sale on May 29, 2026, which was a key strategic move expected to yield approximately $1.12 billion in gross proceeds to Tiptree from an enterprise value of $1.65 billion. This, alongside the anticipated mid-2026 closing of the Reliance First Capital mortgage business sale for an estimated $50 million in gross proceeds, significantly streamlined the company's structure and boosted its pro-forma book value to an estimated $912 million or $23.80 per diluted share as of March 31, 2026.
2. Shareholder Returns and Capital Allocation: In its Q1 2026 results announced on April 30, 2026, Tiptree demonstrated a commitment to returning capital to shareholders by repurchasing approximately $5.0 million of its shares during the first quarter at an average price of $16.13 per share. Additionally, the company declared a dividend of $0.06 per share to stockholders of record on May 18, 2026.
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Tiptree (TIPT) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Closing of Significant Divestitures: Tiptree announced the closing of the Fortegra sale on May 29, 2026, which was a key strategic move expected to yield approximately $1.12 billion in gross proceeds to Tiptree from an enterprise value of $1.65 billion. This, alongside the anticipated mid-2026 closing of the Reliance First Capital mortgage business sale for an estimated $50 million in gross proceeds, significantly streamlined the company's structure and boosted its pro-forma book value to an estimated $912 million or $23.80 per diluted share as of March 31, 2026.
2. Shareholder Returns and Capital Allocation: In its Q1 2026 results announced on April 30, 2026, Tiptree demonstrated a commitment to returning capital to shareholders by repurchasing approximately $5.0 million of its shares during the first quarter at an average price of $16.13 per share. Additionally, the company declared a dividend of $0.06 per share to stockholders of record on May 18, 2026.
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Updated on 6/1/2026
Tiptree (TIPT) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Closing of Significant Divestitures: Tiptree announced the closing of the Fortegra sale on May 29, 2026, which was a key strategic move expected to yield approximately $1.12 billion in gross proceeds to Tiptree from an enterprise value of $1.65 billion. This, alongside the anticipated mid-2026 closing of the Reliance First Capital mortgage business sale for an estimated $50 million in gross proceeds, significantly streamlined the company's structure and boosted its pro-forma book value to an estimated $912 million or $23.80 per diluted share as of March 31, 2026.
2. Shareholder Returns and Capital Allocation: In its Q1 2026 results announced on April 30, 2026, Tiptree demonstrated a commitment to returning capital to shareholders by repurchasing approximately $5.0 million of its shares during the first quarter at an average price of $16.13 per share. Additionally, the company declared a dividend of $0.06 per share to stockholders of record on May 18, 2026.
3. Further Share Repurchase Authorization: Reinforcing its capital return strategy, Tiptree authorized an additional $20 million in share buybacks on May 30, 2026. This further commitment to share repurchases suggests management views the stock as attractively valued, with one analysis indicating the stock was trading approximately 12.3% below its GF Value™ of $20.81 as of May 29, 2026.
Show less
Tiptree (TIPT) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Closing of Significant Divestitures: Tiptree announced the closing of the Fortegra sale on May 29, 2026, which was a key strategic move expected to yield approximately $1.12 billion in gross proceeds to Tiptree from an enterprise value of $1.65 billion. This, alongside the anticipated mid-2026 closing of the Reliance First Capital mortgage business sale for an estimated $50 million in gross proceeds, significantly streamlined the company's structure and boosted its pro-forma book value to an estimated $912 million or $23.80 per diluted share as of March 31, 2026.
2. Shareholder Returns and Capital Allocation: In its Q1 2026 results announced on April 30, 2026, Tiptree demonstrated a commitment to returning capital to shareholders by repurchasing approximately $5.0 million of its shares during the first quarter at an average price of $16.13 per share. Additionally, the company declared a dividend of $0.06 per share to stockholders of record on May 18, 2026.
3. Further Share Repurchase Authorization: Reinforcing its capital return strategy, Tiptree authorized an additional $20 million in share buybacks on May 30, 2026. This further commitment to share repurchases suggests management views the stock as attractively valued, with one analysis indicating the stock was trading approximately 12.3% below its GF Value™ of $20.81 as of May 29, 2026.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 3.5% change in TIPT stock from 2/28/2026 to 6/21/2026 was primarily driven by a 20.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.91 | 17.49 | 3.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | -482 | -497 | 3.3% |
| Net Income Margin (%) | -10.5% | -8.8% | -16.6% |
| P/E Multiple | 12.6 | 15.2 | 20.9% |
| Shares Outstanding (Mil) | 38 | 38 | -0.6% |
| Cumulative Contribution | 3.5% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| TIPT | 3.5% | |
| Market (SPY) | 9.2% | 11.1% |
| Sector (XLF) | 4.7% | 40.5% |
Fundamental Drivers
The -6.2% change in TIPT stock from 11/30/2025 to 6/21/2026 was primarily driven by a -16.6% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.64 | 17.49 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | -482 | -497 | 3.3% |
| Net Income Margin (%) | -10.5% | -8.8% | -16.6% |
| P/E Multiple | 13.8 | 15.2 | 9.6% |
| Shares Outstanding (Mil) | 38 | 38 | -0.6% |
| Cumulative Contribution | -6.2% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| TIPT | -6.2% | |
| Market (SPY) | 9.9% | 10.3% |
| Sector (XLF) | 1.3% | 35.8% |
Fundamental Drivers
The -20.1% change in TIPT stock from 5/31/2025 to 6/21/2026 was primarily driven by a -13.9% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.89 | 17.49 | -20.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | -492 | -497 | 1.2% |
| Net Income Margin (%) | -10.2% | -8.8% | -13.9% |
| P/E Multiple | 16.4 | 15.2 | -7.2% |
| Shares Outstanding (Mil) | 37 | 38 | -1.2% |
| Cumulative Contribution | -20.1% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| TIPT | -20.1% | |
| Market (SPY) | 28.1% | 18.6% |
| Sector (XLF) | 6.7% | 32.1% |
Fundamental Drivers
The 39.3% change in TIPT stock from 5/31/2023 to 6/21/2026 was primarily driven by a -3.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.56 | 17.49 | 39.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,454 | -497 | -134.2% |
| P/S Multiple | 0.3 | -1.3 | -521.4% |
| Shares Outstanding (Mil) | 37 | 38 | -3.4% |
| Cumulative Contribution | 39.3% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| TIPT | 39.3% | |
| Market (SPY) | 85.7% | 30.1% |
| Sector (XLF) | 77.0% | 43.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TIPT Return | 180% | 1% | 39% | 13% | -11% | -3% | 281% |
| Peers Return | 34% | 17% | 6% | 28% | 4% | -10% | 100% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| TIPT Win Rate | 67% | 50% | 50% | 42% | 42% | 33% | |
| Peers Win Rate | 62% | 52% | 50% | 63% | 55% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TIPT Max Drawdown | -42% | -29% | -26% | -24% | -33% | -14% | |
| Peers Max Drawdown | -16% | -20% | -21% | -16% | -21% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MKL, AFG, WRB, RLI, KNSL. See TIPT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | TIPT | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.8% | -6.7% |
| % Gain to Breakeven | 31.2% | 7.1% |
| Time to Breakeven | 102 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.8% | -24.5% |
| % Gain to Breakeven | 40.5% | 32.4% |
| Time to Breakeven | 202 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.9% | -33.7% |
| % Gain to Breakeven | 58.5% | 50.9% |
| Time to Breakeven | 363 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.9% | -19.2% |
| % Gain to Breakeven | 28.1% | 23.8% |
| Time to Breakeven | 174 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -27.2% | -6.8% |
| % Gain to Breakeven | 37.3% | 7.3% |
| Time to Breakeven | 20 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -17.1% | -17.9% |
| % Gain to Breakeven | 20.7% | 21.8% |
| Time to Breakeven | 1 days | 123 days |
In The Past
Tiptree's stock fell -0.3% during the 2025 US Tariff Shock. Such a loss loss requires a 0.3% gain to breakeven.
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| Event | TIPT | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.8% | -6.7% |
| % Gain to Breakeven | 31.2% | 7.1% |
| Time to Breakeven | 102 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.8% | -24.5% |
| % Gain to Breakeven | 40.5% | 32.4% |
| Time to Breakeven | 202 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.9% | -33.7% |
| % Gain to Breakeven | 58.5% | 50.9% |
| Time to Breakeven | 363 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.9% | -19.2% |
| % Gain to Breakeven | 28.1% | 23.8% |
| Time to Breakeven | 174 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -27.2% | -6.8% |
| % Gain to Breakeven | 37.3% | 7.3% |
| Time to Breakeven | 20 days | 15 days |
In The Past
Tiptree's stock fell -0.3% during the 2025 US Tariff Shock. Such a loss loss requires a 0.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Tiptree (TIPT)
Tiptree Inc. (TIPT) operates primarily as an underwriter and administrator of specialty insurance products within the United States, alongside a significant mortgage lending segment. Beyond these core financial services, the company also engages in maritime shipping and strategic investments in shares, offering a diversified business model.
In its Insurance segment, Tiptree provides a comprehensive suite of niche commercial and personal lines insurance, including credit insurance, collateral protection products, and warranty and service contract solutions. The company also offers premium finance services to support these offerings. Tiptree distributes these insurance products through an extensive network comprising independent insurance agents, consumer finance companies, auto dealers, retailers, brokers, and managing general agencies.
The Mortgage segment focuses on originating mortgage loans specifically for institutional investors. Complementing these financial operations, Tiptree maintains an involvement in maritime shipping services and actively manages a portfolio of investments in publicly traded shares, further diversifying its revenue streams.
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A smaller, specialty insurance-focused Berkshire Hathaway.
Like Markel Group (MKL), but also involved in mortgages and maritime shipping.
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- Specialty Insurance Products: Underwrites and administers various niche commercial and personal lines insurance, credit insurance, collateral protection products, and warranty and service contracts.
- Premium Finance Services: Provides financing services for insurance premiums.
- Mortgage Loans: Offers mortgage loans, primarily for institutional investors.
- Maritime Shipping Services: Provides services related to maritime shipping.
- Investment in Shares: Invests in equity shares.
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Tiptree (TIPT) primarily sells its products and services to other companies, which include its distribution partners and institutional clients. Its major customers fall into the following categories:
1. Insurance Distribution Partners: This category encompasses independent insurance agents, brokers, managing general agencies, consumer finance companies, auto dealers, and retailers. These entities partner with Tiptree to distribute its niche commercial and personal lines insurance products, credit insurance and collateral protection products, warranty and service contract solutions, and premium finance services to the end consumer or business.
2. Institutional Investors: These are companies that purchase mortgage loans offered by Tiptree.
3. Maritime Shipping Clients: Businesses that utilize Tiptree's maritime shipping services.
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Michael G. Barnes, Chief Executive Officer and Executive Chairman
Michael G. Barnes has served as Tiptree's Chief Executive Officer since January 2026 and as Executive Chairman of the Board of Directors since its inception in 2007. Mr. Barnes is a founding partner of Tiptree Advisors Holdings, LP, a privately held company that offers investment management services. Before co-founding Tiptree Advisors in 2003, he was responsible for overseeing various credit trading strategies at UBS, PaineWebber, and Bear Stearns.
Scott McKinney, Chief Financial Officer
Scott McKinney was appointed Tiptree's Chief Financial Officer in March 2023. Prior to this role, he served as the Deputy Chief Financial Officer since April 2022 and as the Director of Financial Planning and Analysis, where he oversaw strategic planning, financial analysis, and investor relations. Before joining Tiptree in February 2016, Mr. McKinney held various finance executive positions at General Electric Company.
Randy Maultsby, President
Randy Maultsby has been Tiptree's President since July 2021 and is a member of its Board of Directors. He previously held the title of Managing Director at Tiptree since 2010. In his current role as President, Mr. Maultsby focuses on corporate strategy and development, including overseeing Tiptree's acquisition, disposition, and capital markets activities. Before joining Tiptree, he was a Senior Vice President in the investment banking division of Fox-Pitt, Kelton, and also held positions at JP Morgan, Conning & Company, and Citigroup.
Jonathan Ilany, Vice Chairman
Jonathan Ilany is a member of Tiptree's Board of Directors and was appointed Vice Chairman in January 2026. He previously served as Tiptree's Chief Executive Officer until January 2026 and, prior to that, was the Executive Vice President, Head of Mortgage Finance and Asset Management for the company.
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The key risks to Tiptree Inc. (symbol: TIPT) are primarily centered around a significant strategic transaction, alongside inherent challenges within its core operating segments.
- Risks Related to the Proposed Sale of Key Assets: Tiptree is in the process of selling Fortegra and Reliance First Capital, which are described as key assets. This proposed sale introduces significant uncertainties, including the potential for the transaction not to be completed, or for alternative transactions to be less favorable. If the sale fails, it could negatively impact the company's business, financial condition, and results of operations. Additionally, even if completed, Tiptree's future results will depend solely on its "Retained Business," which will have substantially fewer assets and may be more susceptible to adverse events. The company will also incur significant transaction costs, and management will have broad discretion over the use of the proceeds, which may not always align with shareholder interests or lead to improved operational results or share value.
- Market Risks and Investment Portfolio Performance: The performance of Tiptree's investment portfolio is subject to various market risks, particularly interest rate fluctuations, which can affect the value of fixed income securities and overall investment returns. Volatility in investment returns can significantly impact the profitability of its insurance segment, as it relies on both underwriting performance and returns from its insurance float. Furthermore, a portion of Tiptree's assets are illiquid, which may limit the company's ability to sell them at favorable prices and creates uncertainty in their valuation.
- Competitive and Regulatory Environment in the Insurance Sector: Tiptree operates in highly competitive markets for its insurance products, facing challenges from larger competitors with greater resources and increased industry consolidation. The company is also subject to fluctuating regulatory requirements for statutory capital and reserves, which are often outside its control and can impact profitability. Additionally, increasing regulatory focus on privacy and expanding laws could affect its subsidiaries' business models and expose them to increased liability. The insurance business also relies heavily on independent distributors and third-party service providers, and any loss or underperformance of these relationships could materially affect operations.
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The clear emerging threats for Tiptree (TIPT) primarily stem from ongoing digital transformation within its core industries:
- Insurtech Disruption: The rapid rise of Insurtech companies leveraging artificial intelligence, data analytics, and online platforms to offer more efficient, personalized, and often lower-cost insurance products and premium finance services. These companies are challenging traditional underwriting practices, established distribution channels (like Tiptree's network of independent agents), and customer acquisition models, potentially impacting Tiptree's niche insurance and premium finance segments.
- Digital Mortgage Platforms: The increasing dominance of digital mortgage lenders and online platforms that streamline and accelerate the mortgage application, underwriting, and approval processes. This trend creates significant pressure for greater efficiency, digital integration, and reduced friction across the entire mortgage industry, including services provided to institutional investors, which could affect Tiptree's mortgage segment.
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Tiptree Inc. operates in several distinct markets, including various specialty insurance products, premium finance services, mortgage loans for institutional investors, and maritime shipping services. The estimated addressable market sizes for these key products and services are as follows:
Insurance Segment
- Specialty Insurance Products: The global specialty insurance market was valued at approximately USD 139.74 billion in 2025 and is projected to increase to around USD 362.14 billion by 2035, demonstrating a compound annual growth rate (CAGR) of 9.99% from 2026 to 2035. In North America, the market held a dominant share of USD 43.99 billion in 2025.
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Niche Commercial and Personal Lines Insurance:
- Niche Insurance (overall): The global niche insurance market was valued at approximately USD 680 billion in 2024 and is projected to reach around USD 1.6 trillion by 2033, growing at a CAGR of 7.3% from 2025 to 2033. North America holds approximately 35% of this market.
- U.S. Commercial Insurance: The U.S. commercial insurance market reached USD 294.6 billion in 2024 and is expected to grow to USD 489.1 billion by 2033, with a CAGR of 5.20% from 2025 to 2033.
- U.S. Personal Lines Insurance: The U.S. personal lines insurance market comprised over 54% of the total U.S. property and casualty (P/C) insurance sector's net written premiums in 2024, which totaled USD 1.05 trillion. This indicates an addressable market of approximately USD 567 billion in 2024 for personal lines insurance in the U.S.
- Credit Insurance: The U.S. trade credit insurance market size was valued at USD 2.02 billion in 2023 and is expected to grow at a CAGR of 10.6% from 2024 to 2030. Globally, the trade credit insurance market size was valued at USD 13.66 billion in 2024 and is estimated to reach USD 25.27 billion by 2033, exhibiting a CAGR of 6.72% from 2025 to 2033.
- Collateral Protection Products: While a specific market size for "collateral protection products" is not readily available, the broader global collateral management market, which includes solutions for mitigating financial risks, was valued between USD 4.2 billion and USD 5.6 billion in 2024. This market is projected to reach between USD 9.5 billion and USD 13.6 billion by 2033, with CAGRs ranging from 9.7% to 10.3% from 2025 to 2033. North America accounted for approximately 38% to 46.5% of the global collateral management market in 2024, representing roughly USD 1.6 billion to USD 2.1 billion.
- Warranty and Service Contract Products and Solutions: The U.S. extended warranty market was valued at USD 53.01 billion in 2025 and is projected to reach USD 117.02 billion by 2034, growing at a CAGR of 9.20% from 2026 to 2034. Globally, the extended warranty market was valued at USD 158.2 billion in 2024 and is projected to reach USD 230.5 billion by 2030, with a CAGR of 6.4%. North America leads this market in both adoption and revenue.
Mortgage Segment
- Mortgage Loans for Institutional Investors: It is challenging to isolate the exact market size solely for "mortgage loans for institutional investors" as it often overlaps with broader institutional lending and the overall mortgage market. However, the U.S. institutional loan market's total loan activity reached $1.4 trillion in 2024. Investor lending within the U.S. home purchase mortgage market showed 258,899 investor loans in 2024. The overall U.S. Home Finance Market, reflecting outstanding residential mortgage debt, is in the trillions of USD.
Other Services
- Premium Finance Services: The U.S. premium finance market was valued at USD 17.81 billion in 2023 and is projected to reach USD 37.52 billion by 2032, growing at a CAGR of 7.4% from 2024 to 2032. Globally, the premium finance market was valued at USD 49.5 billion in 2024 and is expected to reach approximately USD 128.5 billion by 2034, with a CAGR of 10.7%. North America was the largest region in the global premium finance market in 2025.
- Maritime Shipping Services: The global maritime freight transport market was valued at USD 371.9 billion in 2023 and is projected to reach USD 552.1 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033. North America attained the highest market share in the maritime freight transport market. A broader "Maritime Market" in North America was valued at USD 700.0 billion in 2024, with projections to reach USD 950.0 billion by 2035.
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Tiptree Inc. (TIPT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Continued Growth in Specialty Insurance (Fortegra): Tiptree's specialty insurance subsidiary, Fortegra, is consistently highlighted as a primary growth engine. The company has demonstrated robust growth in premium and premium equivalents, with a healthy pipeline of new underwriting opportunities across its specialty lines. This growth is supported by strategic investments in data science initiatives, bolstering excess and surplus (E&S) lines capabilities, and geographic expansion. Analysts anticipate continued revenue growth and margin expansion for Fortegra, driven by its growth strategy and disciplined capital management.
- Geographic Expansion, particularly in Europe: Fortegra is actively expanding its reach into new geographic markets, notably across Europe, including the UK and EU. This expansion targets demand in warranty and specialty casualty sectors, with European and UK operations already contributing a growing percentage of the overall insurance revenue. This diversification aims to reduce exposure to regional downturns and capture underserved SME insurance needs in high-potential markets.
- Expansion of Excess & Surplus (E&S) and Admitted Insurance Lines: A significant driver for Fortegra is the robust growth in its specialty E&S and admitted insurance lines. The company continues to see strong submission activity and a favorable pricing environment with rate increases exceeding anticipated loss cost trends in both property and casualty lines. New E&S lines are focusing on high-frequency, low-severity categories, which are expected to deliver predictable loss ratios and stable fee income.
- Growth in Net Investment Income: Tiptree's investment portfolio is expanding, and the company is strategically positioned to capitalize on improving yields. Management expects to continue driving higher overall portfolio yield over the balance of 2024 and into 2025, primarily from improving yields on short-duration fixed income securities and money market funds. The investment portfolio provides yield and liquidity to fund growth initiatives.
- Recovery and Increased Profitability in the Mortgage Business: Despite past challenges related to elevated mortgage rates, Tiptree's mortgage business (Reliance) has shown resilience and returned to profitability with modestly increased origination volumes. The company maintains a positive outlook for this segment, anticipating greater potential for future profit as mortgage rates stabilize. The Reliance network has refocused on servicing high-margin portfolios, further enhancing profitability prospects.
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Share Repurchases
- Tiptree's management emphasizes an owner-oriented approach that includes potential share repurchases.
- The company aims for long-term value creation through strategic investments, opportunistic share buybacks, and thoughtful consideration of dividends.
- Tiptree has historically made $97 million in share repurchases since 2014.
Share Issuance
- As of March 1, 2026, Tiptree had 37,877,057 common shares outstanding.
- The number of shares outstanding increased by 1.86% in the year leading up to March 2026.
- In February 2026, Tiptree's CFO acquired 15,110 shares through the vesting of restricted stock units.
Outbound Investments
- In late 2025, Tiptree agreed to divest Fortegra for $1.65 billion, with an estimated $1.12 billion in gross proceeds to Tiptree, with closing anticipated in mid-2026.
- The company also agreed to sell its mortgage business, Reliance First Capital, for an estimated $50 million in gross proceeds as of December 31, 2025, expected to close in the first half of 2026.
- Tiptree has a track record of over 21 acquisitions and divestitures since its inception in 2007, and it continues to opportunistically allocate capital to small and middle-market companies.
Capital Expenditures
- Tiptree Inc. invested $2.1 million in capital expenditures in Q3 2025.
- Annual capital expenditures were reported as $19 million, $23 million, $64 million, and $39 million in recent years.
- These capital expenditures are primarily focused on funding long-term assets and infrastructure.
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|---|---|
| Name | |
| Mkt Price | 100.04 |
| Mkt Cap | 9.1 |
| Rev LTM | 5,014 |
| Op Inc LTM | - |
| FCF LTM | 1,339 |
| FCF 3Y Avg | 1,261 |
| CFO LTM | 1,364 |
| CFO 3Y Avg | 1,276 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.2% |
| Rev Chg 3Y Avg | 6.9% |
| Rev Chg Q | 1.8% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 23.7% |
| CFO/Rev 3Y Avg | 25.3% |
| FCF/Rev LTM | 22.6% |
| FCF/Rev 3Y Avg | 24.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | -1 | ||||
| Corporate | 0 | ||||
| Insurance | 1,974 | 1,593 | 1,249 | 984 | |
| Mortgage | 66 | 54 | 70 | 111 | |
| Other | 3 | 2 | 79 | 105 | |
| Total | -1 | 2,043 | 1,649 | 1,398 | 1,201 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Insurance | 5,433 | 4,836 | 3,703 | 3,002 | 2,453 |
| Mortgage | 203 | 160 | 156 | 201 | 217 |
| Other | 37 | 127 | 86 | 385 | 302 |
| Corporate | 22 | 17 | 94 | 11 | 24 |
| Total | 5,695 | 5,139 | 4,040 | 3,599 | 2,996 |
Price Behavior
Price Behavior
| Market Price | $17.49 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 09/03/2010 | |
| Distance from 52W High | -30.7% | |
| 50 Days | 200 Days | |
| DMA Price | $17.26 | $17.95 |
| DMA Trend | down | up |
| Distance from DMA | 1.4% | -2.6% |
| 3M | 1YR | |
| Volatility | 22.6% | 36.0% |
| Downside Capture | 29.30 | 89.33 |
| Upside Capture | 52.00 | 34.51 |
| Correlation (SPY) | 15.3% | 18.1% |
TIPT Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.65 | 0.62 | 0.35 | 0.30 | 0.66 | 0.71 |
| Up Beta | -1.35 | 0.17 | 0.13 | 0.33 | 0.65 | 0.72 |
| Down Beta | 2.53 | 1.40 | 0.22 | 0.46 | 0.56 | 0.63 |
| Up Capture | 101% | 65% | 50% | 14% | 36% | 45% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 20 | 31 | 57 | 123 | 378 |
| Down Capture | 71% | 116% | 43% | 32% | 99% | 92% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 19 | 28 | 62 | 121 | 355 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TIPT | |
|---|---|---|---|---|
| TIPT | -23.3% | 35.9% | -0.67 | - |
| Sector ETF (XLF) | 8.3% | 14.6% | 0.33 | 32.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 18.2% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | -0.5% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -5.3% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 22.1% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 12.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TIPT | |
|---|---|---|---|---|
| TIPT | 12.4% | 37.6% | 0.40 | - |
| Sector ETF (XLF) | 9.3% | 18.6% | 0.37 | 40.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 32.7% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 3.4% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 5.8% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 33.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 13.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TIPT | |
|---|---|---|---|---|
| TIPT | 13.8% | 44.3% | 0.45 | - |
| Sector ETF (XLF) | 13.0% | 22.2% | 0.54 | 43.1% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 38.6% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.8% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 11.9% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 36.4% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -0.7% | -0.8% | 3.2% |
| 3/6/2026 | 2.8% | -3.0% | 0.6% |
| 10/31/2025 | 0.7% | 4.0% | 6.2% |
| 7/30/2025 | -0.9% | 0.1% | 12.6% |
| 4/30/2025 | -7.3% | -5.1% | -0.3% |
| 2/26/2025 | 5.0% | 5.5% | 8.9% |
| 10/30/2024 | 3.5% | 11.6% | 15.9% |
| 7/31/2024 | -7.6% | -11.1% | 0.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 16 | 16 |
| # Negative | 7 | 8 | 8 |
| Median Positive | 3.5% | 6.7% | 8.7% |
| Median Negative | -6.0% | -4.8% | -3.4% |
| Max Positive | 12.3% | 51.1% | 81.4% |
| Max Negative | -7.6% | -15.1% | -23.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -0.7% | -0.8% | 3.2% |
| 3/6/2026 | 2.8% | -3.0% | 0.6% |
| 10/31/2025 | 0.7% | 4.0% | 6.2% |
| 7/30/2025 | -0.9% | 0.1% | 12.6% |
| 4/30/2025 | -7.3% | -5.1% | -0.3% |
| 2/26/2025 | 5.0% | 5.5% | 8.9% |
| 10/30/2024 | 3.5% | 11.6% | 15.9% |
| 7/31/2024 | -7.6% | -11.1% | 0.4% |
| 5/1/2024 | 2.2% | 2.5% | 8.8% |
| 1/29/2024 | 2.1% | 0.2% | -7.3% |
| 11/1/2023 | 12.3% | 12.1% | 24.6% |
| 8/2/2023 | 7.6% | 6.5% | 19.3% |
| 5/3/2023 | -6.4% | -11.4% | -2.5% |
| 3/8/2023 | -1.0% | -3.5% | -10.1% |
| 11/2/2022 | 1.3% | 2.6% | 15.5% |
| 8/8/2022 | 3.9% | 10.3% | 3.7% |
| 5/5/2022 | -6.0% | -15.1% | -4.2% |
| 3/9/2022 | 5.2% | 6.9% | -0.1% |
| 11/3/2021 | 2.9% | -4.5% | -23.7% |
| 8/4/2021 | 8.4% | 8.8% | 4.1% |
| 5/5/2021 | 10.6% | 10.0% | 8.6% |
| 3/11/2021 | 4.9% | 51.1% | 81.4% |
| 11/4/2020 | 2.2% | 6.2% | 7.0% |
| 8/5/2020 | 0.2% | 12.0% | -1.2% |
| SUMMARY STATS | |||
| # Positive | 17 | 16 | 16 |
| # Negative | 7 | 8 | 8 |
| Median Positive | 3.5% | 6.7% | 8.7% |
| Median Negative | -6.0% | -4.8% | -3.4% |
| Max Positive | 12.3% | 51.1% | 81.4% |
| Max Negative | -7.6% | -15.1% | -23.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/14/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 03/11/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 03/12/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
| 06/30/2019 | 08/05/2019 | 10-Q |
Insider Activity
Updated 5/28/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ilany, Jonathan | IRA | Buy | 5282026 | 17.45 | 990 | 17,276 | 3,368,042 | Form | |
| 2 | McKinney, Scott T | Chief Financial Officer | 401K | Buy | 3132026 | 15.98 | 1,232 | 19,682 | 63,904 | Form |
| 3 | McKinney, Scott T | Chief Financial Officer | 401K | Buy | 3132026 | 16.15 | 2,600 | 42,000 | 44,714 | Form |
| 4 | Mielle, Dominique | Direct | Buy | 11102025 | 18.29 | 5,500 | 100,595 | 1,293,322 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ilany, Jonathan | IRA | Buy | 5282026 | 17.45 | 990 | 17,276 | 3,368,042 | Form | |
| 2 | McKinney, Scott T | Chief Financial Officer | 401K | Buy | 3132026 | 15.98 | 1,232 | 19,682 | 63,904 | Form |
| 3 | McKinney, Scott T | Chief Financial Officer | 401K | Buy | 3132026 | 16.15 | 2,600 | 42,000 | 44,714 | Form |
| 4 | Mielle, Dominique | Direct | Buy | 11102025 | 18.29 | 5,500 | 100,595 | 1,293,322 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Life & Health Insurance Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/21/2026